Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Nwam LLC

Nwam LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,497 shares of the social networking company’s stock after purchasing an additional 498 shares during the quarter. Meta Platforms accounts for 0.9% of Nwam LLC’s holdings, making the stock its 18th largest holding. Nwam LLC’s holdings in Meta Platforms were worth $15,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, NewSquare Capital LLC lifted its position in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 152,141 shares of company stock worth $83,390,497 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on META shares. Deutsche Bank Aktiengesellschaft raised their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim raised their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley raised their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, TD Cowen lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.7 %

NASDAQ:META opened at $559.14 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The business’s 50-day simple moving average is $572.74 and its 200 day simple moving average is $524.71. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.